False Assurance On Surging Prices

The northward inflation, which surged to 11.43 percent, has undermined the government’s claim to checkmate price hike as well as undone the RBI’s efforts to ease out inflationary pressure. It is profound disappointing that despite all-out exertions of the government, the prices of daily-use items are going through the roof. The hike in prices of fruits, veggies and milk is billed to be the potent cause of recent surge of food inflation. Now, there is no taker of the government’s assurance regarding price control, because the Centre has not been able to contain price rise of food items. Sometimes it feels that the ruling dispensation is not much keen on controlling price rise. If the government had will-power, it would not have banked on the RBI only to control the surging prices. However, the RBI has increased the key rates, there is no indication from the government to devise any concrete measures to contain the price rise. Despite knowing the root cause of soaring price, the Centre has in fact not come forward to tackle the skyrocketing prices. The government cites different reasons such as international factor or less production or high purchasing power or changing living style for its inability to contain price hikes.

It is unambiguous that the purchasing power and living standards of a crust of society has shot up. The economist-backed government must know that if the purchasing power of people increases, the consumption will also go high. It is quite dismay that the Centre could neither get this simple estimation done nor any proper management for the same. Everyone is familiar with the fact that storage of foodgrains and public distribution system are in shambles, however there is no effort to remove the bottlenecks. It is an irony that owing to lack of proper storage, crores of tonnes of foodgrains get perished every year. There is same situation for fruit and veggies. Apart this, hoardings and black marketing are also aggravating the situation as they know it well that the government will not take any bold steps against them. It looks odd that multi-national companies are being invited without having the proper storage system of foodgrains and streamlining public distribution system compounding the misery of people.